What will WaMu think when I do this?

[Anonymous]

Great minds think alike

I just went to the exact same site. And you're both

right. It's considered a purchase, not a cash advance.

When you think about it, you're hiring an independent 3rd party

to take care of a tax matter....which is 100% considered

a service.

Now if cheddar actually took out a cash advance against

the card and paid taxes on his own, that would be an entirely

different matter.

So you should be golden, cheddar! We'll be pulling for you!!!

CanDo

"The right attitude is everything"

[Anonymous]

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@Anonymous wrote:

Call. 

With that said....you OWE taxes....I know you wouldn't dare do your taxes electronic file if you owed. (prepare them that way sure...but print and mail...) Why not delay sending the check until 10pm (or anything after 5pm really) at your designated drop off point on Tuesday night.  There is always a place open on the 15th in decent sized cities for a 4/15 postmark.  Then they will take at least a couple days to receive it, cash it and submit it to your bank....even if they send it back electronicly. 

I doubt they get it to your bank by friday. That give you until next monday for funds to clear.

OR

Send them a BT check if you received them yet.

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I don't understand your reasoning; what's wrong with paying taxes electronically if you owe them?

We paid about $7K in taxes in February electronically.

[Anonymous]

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watchnerd wrote:

I don't understand your reasoning; what's wrong with paying taxes electronically if you owe them?

We paid about $7K in taxes in February electronically.

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I think the logic is to send the payment by snail mail simply because it will take longer.  If you mail a payment on April 15, it will still be considered timely, but you may be able to make a little more interest on the float.

[Anonymous]

Feb 15th vs April 15 = 2%APR is $11.51 in interest.

Just grabbing a crappy apr out of the air for a savings account.

[Anonymous]

Hey Cheddar. It is Tax time, I do not think credit cards are freaking out about tax payments. I think it is a great opportunity to break it in. Plus if you check out the Official Payments Page, (where they do the credit card processing for tax payments) there is even a whole advertisement about getting points for paying for your taxes with your credit card.

Obviously because of the 2.49% fee, you do not end up on top as far as points go, but if you are not liquid yet I say go for it. What better way to show WAMU right from the start that you will use their card, and you have the capacity to pay it back!

[Anonymous]

My uncle just put 18K on one card for his taxes. He used his BofA Business CC. I think it is becoming more common place these days. And it gives you a little electronic receipt. WAY BETTER THAN SNAIL MAIL!

[Anonymous]

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@Anonymous wrote:

Feb 15th vs April 15 = 2%APR is $11.51 in interest.

Just grabbing a crappy apr out of the air for a savings account.

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Fair enough, but when one factors in postage, printing, dealing with post office, paper costs, and most importantly, personal value of time, I'd consider it a wash, at best.

[Anonymous]

OK, thanks for the input, everyone.

I did just call WaMu and spoke to a stateside rep (unusual for them...I guess the trick is to call in the middle of the night).  I explained what I wanted to do and I could hear the hesitation in her voice, but she did say she would note the account that I was planning a large purchase.  She said that "hopefully" that would prevent me from having any problems.  Um...OK.  I'm even less confident about this now than I was before I called them.

In the end, though, I don't really have any other choice.  Although, I suppose I could split it up among a couple of cards.  I didn't really think about that before.  That might be my best alternative.

[Anonymous]

That is weird! Huh, hesitation sometimes brings out anxiety.

I think the comment she made may have more to deal with the fact that these days large purchases are almost always a call in (ie. stuck in line because your $2800 computer purchase needs to be verified). I could be wrong, but I know I just processed one today for my Uncle, and his credit limit is only 20K. With the fees I think it came out to something like 18448. It comes as two separate transactions on your card. One will be for your taxes, and the other listed as a fee.

I hope you find some confidence in this transaction. Whether you choose to put it on the WAMU or space it out among other cards. It is a sad day when we get credit we are afraid to use, because we don't know who will CLD us.

[Anonymous]

I'm glad it worked out for you, cheddar....albeit with some hesitation.

It still might be best if you call back tomorrow morning and ask to speak

with a senior supervisor. No offense to the person you spoke with, but

it's his/her job to answer general questions and take apps over the phone.

First rule of negotiation and/or problem resolution: Never accept a

"No" or "Um....Ok" from someone not in a position to give you a

definitive "Yes". And make sure you get a first name, last name and

ID number just to be on the safe side. The call should also be recorded

for even greater mutual protection...

Splitting it up among 2 cards does make sense....this way, no one

card will be overburdened.

CanDo

"The right attitude is everything"